#pune

This was quietly just reported from Indian news sources:

TIAA Global Capabilities, an Indian subsidiary and strategic global delivery centre for TIAA (Teachers Insurance and Annuity Association of America), has leased 255,713 square feet of office space in Pune.

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According to lease-related documents accessed via Propstack, a real estate data analytics firm, TIAA Global Capabilities has leased the space for 10 years at Panchshil Vantage in Wagholi, with the contractual rent over the 10-year term estimated at around ₹320 crore.
 
TIAA Global Capabilities has leased the space from P-one Infrastructure “to carry out its business”, according to the deal-related document.
 
The lease is at ₹92 per square foot per month, translating into an initial monthly rent of about ₹2.35 crore, with a 15 per cent escalation every three years and a security deposit of ₹14.11 crore.
 
TIAA Global Capabilities, the technology and shared-services arm of the New York-based financial services firm TIAA, will take the space in two tranches. It will occupy 187,996 square feet across floors 5-7 from December 2026 and 67,717 square feet on floor 8 from June 2027.

In response to the queries sent by Business Standard, TIAA Global Capabilities said that 2026 marks 10 years of TIAA Global Capabilities’ presence in India, and this expansion reflects the continued growth and strategic importance of our India operations. 
 
“As an artificial intelligence (AI)-powered GC, TIAA Global Capabilities has been scaling its footprint to support increasing demand across technology transformation, including artificial intelligence and emerging technologies, data and analytics, risk management, and client experience functions. This additional space in Pune will allow us to consolidate our teams and better support the range of capabilities we continue to build in the city, with scope for further growth as our operations evolve,” TIAA Global Capabilities noted. 
 
Established in 2016 as TIAA's Global Capability Centre (GCC) in India, TIAA GC supports the organisation's technology, operations, and business-facing functions. 
 
TIAA Global Capabilities already has offices in Mumbai and Pune, which house its 3,500 associates. The firm delivers high-quality global technology, operations and shared services to TIAA's businesses and associates.
 
Earlier, Pune recorded its highest half-yearly gross office space absorption volume in the last decade at 6.4 million square feet (msf) in the first half of calendar year 2026 (H1 2026), up 56 per cent year-on-year (YoY), according to property consultancy firm Savills India.
 
The city emerged as India's second-largest office market after Bengaluru. Leasing activity was primarily driven by IT-BPM, flexible workspaces, and engineering and manufacturing, with the latter replacing the banking, financial services and insurance (BFSI) sector among the top three demand drivers, Savills noted.

Not the first time this is being reported quite a pattern now going on, but another round of layoffs under planning for late September/ early October, headcount reduction across Engineering and services due to rapid off shoring of roles to India mainly Pune.

Train your replacement in India across the next few month's and hand it your laptop will be the way this works for those to be impacted in the next round of layoffs to come.

Anyone get their goals? Why are there so many? This isn’t manageable. I don’t get what any of them have to do with me. Create 10% digital employees, reduce night shift by 75%. Um I don’t have staff, and I don’t work night shift. I’m assuming night shift is Pune and we only have 1 person. How is 75% reduction possible and why do I care? I’m already doing their work. You already took my staff and gave them to Pune. D-mbest firm ever! I guess they are gearing up for another 10% layoff!

With Pune announcing they will stop working at 11pm their time around 12:30pm EST,
NYC teams are scrambling as the teams do NOT have appropriate staffing to perform the job or experience due to all the layoffs over the past years.

Do we have sufficient seats ? any news ?

Not sure how many were impacted but know some in Global Payments were let go today all in favor of the needful. More good Americans now jobless because Robin Vince favors Pune scammers

There is zero doubt. Not only did I already know this and have had discrete discussions with management, but I had the shocking experience experience of overhearing a very high higher-up talking about this situation to who I assume was a colleague in the lobby of another business! The goal is to send everything to Pune and ultimately have AI take over all they can. If processes fail, they fail; so be it.

Confirmed. Many layoffs last week at India Technology Center in Pune. The wave will hit Nortbelt soon.

The layoffs are still happening. They are just smaller in number so they fly under the radar. They actually have a blanket RIF for the year and they are bucketing everyone into it. There are at least 12 people laid off after every quarter end and they are even starting to lay off the offshore resources in Pune and Costa Rica. That might not sound like a lot but when you look at what used to be teams of 100 and they are now around 30 that tells you everything. They have cut so far they are now cutting bone. Essential people needed to get the jobs done are being let go to the point the remaining can't keep up. People know the CCC+ bond rating is a company killer and are now trying to get out before the hammer hits them.